Published on 4/17/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.04 million index-linked notes on S&P, Dow
By Sarah Lizee
Olympia, Wash., April 17 – GS Finance Corp. priced $2.04 million of 0% index-linked notes due April 10, 2025 tied to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If each index closes at or above its initial level, the payout will be par plus the 1.75 times the return of the lesser performing index.
If either index declines, but not more than 30%, the payout will be par.
If either index declines more than 30%, investors will be exposed to the losses of the worst performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | S&P 500, Dow Jones industrial average
|
| Amount: | $2,042,000
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| Maturity: | April 10, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index closes at or above its initial level, par plus 1.75 times the return of the lesser performing index; par if either index declines, but worst performer declines less than 30%; full exposure to losses of worst performer if either index declines more than 30%
|
| Initial index levels: | 22,653.86 for Dow, 2,659.41 for S&P
|
| Trigger level: | 70% of initial levels
|
| Pricing date: | April 7
|
| Settlement date: | April 13
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.16%
|
| Cusip: | 40056YYY4
|
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